first mortgage

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first mortgage

A security interest in property which takes precedence over all similar interests in the same property.
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8 million in loans during August, including a $3 million first mortgage and a $500,000 line of credit for a 124-unit co-op located at 69-40 Yellowstone Boulevard in Forest Hills, N.
Utilizing the resources of AMAC's advisor, CharterMac (NYSE:CHC), AMAC intends to originate and acquire first mortgage loans, subordinated interests in first mortgage loans and bridge loans, in addition to the traditional mezzanine loans that AMAC originates.
6 million first mortgage and a $1 million line of credit for the Forest Green Apartments, a 252-unit co-op located at 2433 Union Boulevard in Islip, NY.
Payment terms under the first mortgage provide for interest only for the first two years, with amortization during the extension periods based on a 25-year schedule.
6 million in loans during November, including the largest deal of the month, a $33 million first mortgage and a $1 million line of credit for North Isle Village, a 767-unit co-op located at 50 Gibbs Road in Coram, NY.
5 million first mortgage and a $1 million line of credit for a 39-unit co-op located at 16 East 96th Street in Manhattan.
With a 125 percent first mortgage, a buyer in this situation would find it easier to qualify by being able to pay off his or her debt.
NCB's senior vice president, Sheldon Gartenstein, originated over $4 million in loans during May, including a $1 million first mortgage and a $500,000 line of credit for a 148-unit co-op located at 155 Ferris Avenue in White Plains, NY.
Howe arranged more than $61 million in loans for area cooperatives in August, including the largest loan of the month, a $39 million first mortgage for Glen Oaks Village, a 2,904-unit co-op located in Glen Oaks, NY.
5 million in loans during August, including a $4 million first mortgage for an 89-unit co-op located at 2199 Holland Avenue in Bronx, NY; a $2 million first mortgage for a 96-unit co-op located at 66-11 Yellowstone Boulevard in Forest Hills, NY.
5 million first mortgage and a $750,000 line of credit for a 312-unit coop located at 250-55 46th Avenue in Bayside, NY.
Moreover, this transaction is AMAC's first mezzanine loan originated in conjunction with a fixed-rate conduit first mortgage and represents a new financing niche for the Company.